Hourglass Capital LLC Increases Stake in HP Inc. (NYSE:HPQ)

Hourglass Capital LLC raised its holdings in shares of HP Inc. (NYSE:HPQ) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 138,005 shares of the computer maker’s stock after acquiring an additional 4,700 shares during the quarter. Hourglass Capital LLC’s holdings in HP were worth $4,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in HP during the third quarter valued at $25,000. Synergy Asset Management LLC purchased a new position in shares of HP during the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP during the 4th quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in HP in the 3rd quarter worth approximately $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP during the 3rd quarter worth approximately $44,000. Institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $33.69 on Friday. The stock has a market capitalization of $31.59 billion, a PE ratio of 11.99, a P/E/G ratio of 2.78 and a beta of 1.05. The company’s fifty day moving average is $33.17 and its 200 day moving average is $34.83. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein upped their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Citigroup dropped their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Barclays upped their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.23.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.